Company Registration No. 12244870 (England and Wales)
P5 DEVELOPMENTS LTD
Unaudited accounts
for the year ended 31 October 2022
P5 DEVELOPMENTS LTD
Unaudited accounts
Contents
P5 DEVELOPMENTS LTD
Company Information
for the year ended 31 October 2022
Company Number
12244870 (England and Wales)
Registered Office
57 Stonepark Avenue
Beckenham
BR3 3LU
United Kingdom
Accountants
Solid Ltd
Eagle House
163 City Road
London
EC1V 1NR
P5 DEVELOPMENTS LTD
Statement of financial position
as at 31 October 2022
Tangible assets
33,858
42,668
Cash at bank and in hand
17,468
66,210
Creditors: amounts falling due within one year
(36,052)
(52,572)
Net current assets
9,897
16,503
Total assets less current liabilities
43,755
59,171
Creditors: amounts falling due after more than one year
(31,607)
(46,395)
Provisions for liabilities
Other provisions
(4,821)
(6,142)
Called up share capital
1
1
Profit and loss account
7,326
6,633
Shareholders' funds
7,327
6,634
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 October 2023 and were signed on its behalf by
Neil Pritchard
Director
Company Registration No. 12244870
P5 DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 October 2022
P5 DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 12244870. The registered office is 57 Stonepark Avenue, Beckenham, BR3 3LU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
over 4 years
Computer equipment
over 4 years
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
P5 DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 October 2022
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2021
45,989
750
46,739
At 31 October 2022
45,989
750
46,739
At 1 November 2021
3,930
141
4,071
Charge for the year
8,623
187
8,810
At 31 October 2022
12,553
328
12,881
At 31 October 2022
33,436
422
33,858
At 31 October 2021
42,059
609
42,668
Amounts falling due within one year
Accrued income and prepayments
1,531
865
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,636
6,996
Obligations under finance leases and hire purchase contracts
6,064
6,064
Trade creditors
9,059
10,588
Taxes and social security
6,285
(217)
Loans from directors
-
381
7
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
11,117
17,686
8
Operating lease commitments
2022
2021
At 31 October 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
-
19,273
P5 DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 October 2022
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan
-
39,168
29,725
9,443
Director's loan balance was cleared on April 30 2023 by way of dividend payment
10
Average number of employees
During the year the average number of employees was 1 (2021: 1).